Dev IT Technology Shares Jump 7.3% After Bagging Rs 26 Crore Order from NICSI

Synopsis: Dev Information Technology Limited has secured a Rs. 26 crore, three-year fixed-cost contract from NICSI for the design, development, and maintenance of the National Pharmacists Registration Tracking System under the Pharmacy Council of India.

A government-focused digital transformation mandate brought a Ahmedabad-based IT services company into focus on April 9 after it announced the receipt of a Rs. 26 crore order from the National Informatics Centre Services Incorporated for a national-level pharmacist registration platform. The contract, awarded on a fixed-cost basis with a three-year execution window, covers design, development, system integration, cybersecurity, and ongoing maintenance of the platform under the Pharmacy Council of India. Shares of the NSE and BSE-listed company have traded near their 52-week lows in recent weeks.

With a market capitalisation of Rs. 177.34 crore, the shares of Dev Information Technology Limited were trading at Rs. 31.48 per share, up 7.33 percent from its previous closing price of approximately Rs. 29.33 apiece. It is trading at a P/E of 2.44

Order Update

The National Pharmacists Registration Tracking System (NPRTS) will function as a centralized, web-based platform for pharmacist registration and tracking across India, issued through NICSI, the commercial procurement arm of the National Informatics Centre. The project scope includes end-to-end platform development, system integration across relevant government databases, and implementation of cybersecurity measures for the existing IT environment within the Pharmacy Council of India.

The contract’s three-year tenure places annualized revenue recognition at approximately Rs. 8.7 crore, roughly 5 percent of FY25 revenues, a steady, low-risk government income stream rather than a transformative contract. That said, NICSI mandates carry institutional credibility and serve as reference wins for subsequent government IT bids, which is where the strategic value of this order extends beyond its headline size.

Business Overview

Dev Information Technology Limited (DEV IT) is an Ahmedabad-based IT services company incorporated in 1997. The company offers cloud services, digital transformation, enterprise applications, managed IT services, and application development, with offices across Gujarat, Maharashtra, Rajasthan, and Canada. In consolidated FY25, the company reported total income of Rs. 171 crore and net profit of Rs. 15 crore. The Dec 2025 quarter saw an operating loss of Rs. 6.37 crore on revenues of Rs. 44.14 crore, reflecting a challenging period after an exceptionally high other income quarter in Sep 2025.

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